Director of Student Accounts

Director of Student Accounts

LIM College - The Business of Fashion & Lifestyle is currently seeking candidates for the position of Director of Student Accounts. Founded in 1939 and located in midtown Manhattan, LIM College is focused on the global business of fashion and lifestyle. Offering master's, bachelor's, and associate degree programs, LIM prepares students for career success via an immersive approach grounded in real-world experience and learning by doing required internships. LIM College's commitment to excellence in business education ensures graduates are sought after by a wide range of employers, as evidenced by a Career Outcomes Rate of 96% for the Class of 2022. Alumni excel throughout all areas of fashion and lifestyle and have gone on to work for companies such as Chanel, Gucci, Alexander McQueen, Ross Stores, The Financial Times, Ulta Beauty, Google, Saks Fifth Avenue, Cannabis Creative, and The National Football League.

The Director of Student Accounts coordinates, plans, and oversees the tuition billing and collections processes for undergraduate and graduate students and supervises multiple Student Accounts Advisors.

Salary Range: $90,000 - $100,000/Annually

Essential Functions and Basic Duties:

• Lead a team of Student Accounts Advisors in a student-centered environment with exceptional customer service with ongoing training and staff development
• Serve as the College Bursar
• Design, implement, and maintain a comprehensive Accounts Receivable strategy, including the development of standardized processes and procedures to be executed consistently by all Student Accounts staff. Ensures alignment with institutional goals, regulatory requirements, and best practices in student financial services
• Manage the assessment and collection of millions of dollars in gross tuition and fee revenue for all undergraduate and graduate programs
• 3rd-party vendor management
• Manage collection agency relationships
• Responsible for regularly scheduled mailing of statements for delinquent out-of-school accounts
• Regularly reviewing the status of the receivable balance and strategizing to reach an optimum level of outstanding accounts receivable
• Oversee and manage student data preparation for Form 1098-T annually in accordance with current IRS guidelines
• Create and maintain the tuition and fee rate tables to ensure accurate billing for all students in accordance with current academic-year tuition and fee rates annually
• Provide key performance indicator data to various organizational leaders on a quarterly basis
• Maintain, review and revise accounts receivable policies, procedures and guidelines on an annual basis - and as necessary, including but not limited to, representing student accounts in appropriate staff meetings, institutional meetings and institutional events/functions such as orientation
• Oversee the Student Accounts email inbox
• Serve as a point of contact for VA responsibilities as well as the New York State Tuition Assistance Program (TAP) including reporting, state approving application statuses, distribution of funds, and audit results
• Reconciling student accounts with the general ledger
• Other responsibilities as assigned

Requirements:

• Bachelor's degree required.
• Minimum five years of related professional experience in collections, billing, customer service, management, preferably within higher education

Skills:

• Demonstrated experience and deep knowledge of higher education principles, practices and procedures as they relate to student account operations
• Knowledge of college and/or public auditing policies, standards, and procedures
• Possesses in-depth knowledge and demonstrated experience with federal and state financial aid and finance regulations, as well as college financial policies and procedures, including the Code of Federal Regulations, Department of Veterans Affairs (VA) education benefits, and the Truth in Lending Act (TILA). Provides ongoing oversight to ensure strict compliance with all applicable laws and institutional guidelines
• Skill in fiscal management
• Demonstrated experience of cashiering and cash management principles, systems, procedures, and standards
• Knowledge of accounting and accounts receivable principles, methodology, and practices
• Management experience strongly preferred
• Experience using a data enterprise resource planning (ERP) system, such as Sonis or similar system, to analyze data and prepare reports
• Ability to foster a cooperative and inclusive work environment

Work Perks:

• College Closed for Summer Fridays
• Tuition Remission or Tuition Exchange
• 6 Weeks of Paid Holidays
• Birthday Day to Celebrate your Birthday
• 2-4 weeks of vacation based on longevity; 7 sick days annually
• Medical, Dental, Vision, Employee Assistance, 401K etc.